https://www.taxtmi.com/caselaws?id=296004 Revision under section 263 requires the assessment order to be both erroneous and prejudicial to the interests of the Revenue. Where the Assessing Officer accepted an entity's status as a State Government agent under the applicable development statute, consistently with earlier assessments and precedent, that acceptance constituted a legally permissible view. A revisional authority cannot invoke section 263 merely by preferring a different view on the same facts, including a view that constitutional immunity does not apply. Judicial discipline requires adherence to binding higher judicial decisions, and revision is unavailable unless the assessment view is unsustainable in law. en-us Wed, 16 Oct 2019 00:00:00 +0530 Wed, 30 Jun 2021 08:19:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296004 Revision under section 263 requires the assessment order to be both erroneous and prejudicial to the interests of the Revenue. Where the Assessing Officer accepted an entity's status as a State Government agent under the applicable development statute, consistently with earlier assessments and precedent, that acceptance constituted a legally permissible view. A revisional authority cannot invoke section 263 merely by preferring a different view on the same facts, including a view that constitutional immunity does not apply. Judicial discipline requires adherence to binding higher judicial decisions, and revision is unavailable unless the assessment view is unsustainable in law. Case-Laws Income Tax Wed, 16 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296004